资本市场研究热点综述

A Review of the Research on Capital Market

资本市场具有聚集、融通、配置资本,分散风险,提供流动性,监管和信息揭示的功能,并通过这些功能的作用,促进产业结构优化,推动高新技术企业的发展;资本市场的风险主要表现在信息风险、流动风险和系统性风险;针对资本市场的潜在风险,政策工具和政策手段应当有所创新;资本市场改革和发展的关键是转变政府职能,依据市场规律进行调控,完善市场运行与管理机制。

With the function of capital financing and distributing, risk diversifying, liquidity smoothing, supervising and information disclosing, capital market promotes industrial structure updating and the development of hi-tech enterprises. The risk of capital market involves information risk, liquidity risk and systematic risk. Policy instruments and means should be in- novated regarding the potential risk of capital market. The reform and development of capital market mainly depends the change in government＇s administration. It＇s regulating and supervising should adhere to market laws aiming to perfect market operation and administrative mechanism.